Taking a hands-on approach

shareholder activism

Activist hedge fund managers may feel they face a losing battle in image relations. Mutual funds advocating change in firms are 'white knights' fighting for unit holders, while their hedge funds are short-term, profiteering "locusts".

Not so, says Phil Goldstein, head of US activist Bulldog Investors, as some agitating produces mutually beneficial outcomes.

Goldstein cites the example of a $330m, 90-year old Pennsylvanian firm, Blaire Corp.


Blaire, which sells apparel to th

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